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Anglo American Agrees to Sell Brazil Nickel Mines to China’s MMG
- Miner to sell nickel business for as much as $500 million
- Deal is part of wider restructuring of Anglo’s operations
Anglo American Plc said it’s agreed to sell its nickel business in Brazil to MMG Ltd. for as much as $500 million.
The deal is part of a wider restructuring used to fend off an unsolicited $49 billion takeover proposal by BHP Group Ltd. Anglo plans to focus on copper while keeping iron ore and fertilizer assets in its portfolio. The company is exiting diamond, platinum, nickel and coal mining.